Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)

v3.22.2.2
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Sep. 30, 2022
USD ($)
lot
Dec. 31, 2021
USD ($)
Projected Number of Lots    
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 0  
Option contracts — non-refundable deposits, committed | lot [1] 9,989  
Purchase contracts — non-refundable deposits, committed | lot [1] 8,427  
Purchase and option contracts —refundable deposits, committed | lot 2,102  
Total committed | lot 20,518  
Purchase and option contracts — refundable deposits, uncommitted | lot [2] 22,524  
Total lots under contract or option | lot 43,042  
Total purchase and option contracts not recorded on balance sheet | lot [3] 43,042  
Purchase Price    
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0 $ 8,011
Option contracts — non-refundable deposits, committed [1] 558,694  
Purchase contracts — non-refundable deposits, committed [1] 243,038  
Purchase and option contracts —refundable deposits, committed 52,787  
Total committed 854,519  
Purchase and option contracts — refundable deposits, uncommitted [2] 743,757  
Total lots under contract or option 1,598,276  
Total purchase and option contracts not recorded on balance sheet [3] 1,598,276  
Option/ Earnest  Money Deposits–Cash    
Purchase and option contracts recorded on balance sheet as Real estate not owned 0  
Option contracts — non-refundable deposits, committed [1] 58,154  
Purchase contracts — non-refundable deposits, committed [1] 19,508  
Purchase and option contracts —refundable deposits, committed 1,105  
Total committed 78,767  
Purchase and option contracts — refundable deposits, uncommitted [2] 9,661  
Total lots under contract or option 88,428  
Total purchase and option contracts not recorded on balance sheet [3],[4] $ 88,428  
[1] Deposits are non-refundable except if certain contractual conditions are not performed by the selling party.
[2] Deposits are refundable at our sole discretion. We have not completed our acquisition evaluation process and we have not internally committed to purchase these lots.
[3] Except for our specific performance contracts recorded on the accompanying unaudited consolidated balance sheets as Real estate not owned (if any), none of our purchase or option contracts require us to purchase lots.
[4] Amount is reflected on the accompanying unaudited consolidated balance sheets in Deposits on real estate under option or contract as of September 30, 2022.